Ibex Wealth Advisors Invests $12.54 Million in AT&T Inc. (NYSE:T)

Ibex Wealth Advisors bought a new stake in shares of AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 550,822 shares of the technology company’s stock, valued at approximately $12,542,000. AT&T comprises about 1.5% of Ibex Wealth Advisors’ investment portfolio, making the stock its 14th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after buying an additional 3,630,972 shares during the period. FMR LLC boosted its holdings in shares of AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Swiss National Bank raised its stake in shares of AT&T by 0.5% during the 3rd quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock valued at $468,217,000 after purchasing an additional 104,700 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in AT&T by 7.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 17,218,490 shares of the technology company’s stock worth $378,807,000 after purchasing an additional 1,206,330 shares in the last quarter. Finally, National Pension Service boosted its stake in AT&T by 15.8% in the 3rd quarter. National Pension Service now owns 15,769,707 shares of the technology company’s stock worth $346,934,000 after purchasing an additional 2,152,016 shares during the period. Institutional investors own 57.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on T shares. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of AT&T from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Thursday, January 16th. Finally, Sanford C. Bernstein raised their price target on AT&T from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.11.

AT&T Stock Up 1.2 %

Shares of NYSE:T traded up $0.30 during midday trading on Wednesday, reaching $24.70. The company’s stock had a trading volume of 5,575,235 shares, compared to its average volume of 37,399,512. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average of $22.86 and a 200-day moving average of $21.55. The firm has a market capitalization of $177.19 billion, a P/E ratio of 20.06, a PEG ratio of 3.50 and a beta of 0.59. AT&T Inc. has a 12-month low of $15.94 and a 12-month high of $24.98.

AT&T (NYSE:T) last announced its earnings results on Monday, January 27th. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. AT&T had a net margin of 7.42% and a return on equity of 13.97%. On average, research analysts anticipate that AT&T Inc. will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.49%. AT&T’s dividend payout ratio is currently 90.24%.

AT&T Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.